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VAT gap remains high as non-compliance overtakes revenue rise

Mon, 09 Sep 2019 09:09:00 GMT

The European Commission's VAT Gap report has revealed that tax revenues in Greece increased in 2017, but this did not close the gap between expected and actual VAT revenues. Instead, non-compliance with VAT grew to effectively outstrip the increase in tax revenue. The VAT gap is a measure of VAT

VAT revenues up in 2016 but rate hikes fail to close gap of 29 pct

Mon, 24 Sep 2018 09:06:00 GMT

The European Commission's VAT Gap report has revealed that high rates of VAT in Greece appear... of the European Union countries surveyed, Greece fared among the worst in terms of its VAT shortfall, at 29.2 percent or 5.9 billion euros. The figures are based on data from 2016. The VAT gap is a measure

VAT gap of 30.1 pct in 2018 keeps Greece among worst performers in EU

Mon, 14 Sep 2020 09:30:00 GMT

The European Commission's VAT Gap report has revealed that the European Union lost an estimated 140 billion euros in Value-Added Tax (VAT) revenues in 2018, equal to a total revenue loss of 11 percent across the EU, with Greece ranking among the worst performers. The VAT gap is a measure of VAT

EC study: VAT gap in Greece at 34 pct, more than double the EU average

Fri, 04 Sep 2015 13:19:00 GMT

The European Commission published a study on Friday that examines the evolution of the VAT gap across the EU according to the latest available data for 2013. The VAT gap is defined as the difference between the amount of VAT that is actually collected and the estimated VAT amount

What this week's VAT changes mean for household budgets and public coffers

Fri, 17 Jul 2015 09:55:00 GMT

included a large reshuffling of VAT rates. The new basic VAT rate was set at 23 percent, while.... Although VAT rates remained broadly stable, the key changes relate to reshuffling of products and services among the three VAT categories. The super-reduced rate includes only pharmaceuticals, books

Greek VAT gap narrowed 22.4 pct to 4.9 bln in 2014, EC report shows

Wed, 07 Sep 2016 06:45:00 GMT

The European Commission (EC) published a report on Tuesday examining the evolution of the VAT gap in EU countries based on the most recent data available, from 2014. The VAT gap is a measure of VAT compliance and it is defined as the difference between the amount of the collected VAT revenues

Capital controls trigger big rise in card use and VAT revenues, Bank of Greece data shows

Tue, 20 Dec 2016 08:46:00 GMT

controls in July 2015 is having a positive impact on VAT revenues by improving collectability, the Bank..., the recent rise in the VAT rate is having a negative effect on VAT revenues and the BoG suggests the launch of more initiatives to widen further the use of cards as well as the lowering of VAT rates

Proposed VAT overhaul a stepping stone towards agreement with lenders?

Tue, 19 May 2015 09:31:00 GMT

Greece and its lenders are broadly in agreement on the restructuring of Greece’s VAT system, which... night, explaining for the first time in public what the new VAT system might look like. Greece has currently two main VAT rates at 13 and 23 percent and a lower rate of 6.5 percent for hotel

Is VAT all you've got?

Sat, 20 Jul 2013 15:25:00 GMT

the most of the skeptical troika finally giving in on a longstanding Greek demand for VAT in the food... that the troika had begun listening to Greece. Indeed, the VAT reduction represents something.... The government hopes the VAT cut will boost one of the biggest employers in Greece’s all-important

Delay to final tranche over island VAT as lenders quash talk of pension cut reversal

Fri, 13 Jul 2018 07:09:00 GMT

raised objections to the way in which Athens decided to extend the discount on VAT on five Aegean... consultation over the decision not to increase the VAT rate on the five islands in question at the end of June... the VAT rate on five islands,” said ESM managing director Klaus Regling after Thursday’s meetings